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Jan 28, 2013
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the tax cut deal, the big fights over the budget and the debt ceiling and deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took, why he took the actions he took in that very perilous time politically, but i also explain how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and mitt romney, but a choice between different ideologies, different approaches to government, between different sets of visions and values. and everything he did in that time frame he kept trying to tether to this big idea he had about a choice. and when i wrote the book, of course, we can't know how things would end up on november 6, 2012. but, um, i looked at how he developed his governing strategy and his electoral strategy, and it really culminated in november. so this is the back story to what happened in this presidential campaign. >> host: david corn, "sh
the tax cut deal, the big fights over the budget and the debt ceiling and deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took, why he took the actions he took in that very perilous time politically, but i also explain how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory after he took that big hit in 2010, he had a theory that he could make the 2012...
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Feb 19, 2013
02/13
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if we don't resolve some of the debt ceiling and some of spending cuts and get into some of the fiscal order that you were talking about, we are going to have that wait on us. and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still at negative growth was 7%. so now you're up to 50% or so of world gdp that is a drag on the economy. how do you look at the broadest sense of contagion as it relates to emerging market growth, developing country growth with 50% of world gdp possibly in a situation? >> i think the trade figures tell it all. whether you agree with the figure on growth or not. i think the trade figures show what's happening. and there's no doubt picking one of the countries you mentioned, china. i mean, china for the last 20 years has been double-digit growth. last year they had one of the worst years in recent memory. we'll see the final figures coming out. it didn't get below 7%. but when you move from double-digit down to seven something percent, and one of the major drivers of that was their largest export market is
if we don't resolve some of the debt ceiling and some of spending cuts and get into some of the fiscal order that you were talking about, we are going to have that wait on us. and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still at negative growth was 7%. so now you're up to 50% or so of world gdp that is a drag on the economy. how do you look at the broadest sense of contagion as it relates to emerging market growth, developing...
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Feb 2, 2013
02/13
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you know, if we don't resolve some of the debt ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it, and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still in negative growth was 7%. so now your up to 50% or so of world gdp that is a drag on the economy. how you look at, you know, the broader sense of contagion as it relates to the emerging market growth and development country growth with 50 percent of world's gdp possibly in that situation? >> i think the trade figure still at all, whether you agree with the figures of growth are not, i think the trade figures show what is happening. there is no doubt, picking one of the countries mentioned, china, i mean, china for the last of the years has been double digit growth. last year they had one of the worst years in recent memory. we will see the final figures coming out. it did not give below 7%, which i view as hard landing, but when you move from double digits down to a 7-something perce
you know, if we don't resolve some of the debt ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it, and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still in negative growth was 7%. so now your up to 50% or so of world gdp that is a drag on the economy. how you look at, you know, the broader sense of contagion as it relates to the emerging...
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ceiling into spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk was no part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall wrong cliffs we have five phrases we'd like to retire this year that's in loose change let's get to today's capital account.
ceiling into spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk was no part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall wrong cliffs we have five phrases we'd like to...
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Jan 3, 2013
01/13
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ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past the cliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98% of the taxpayers it gave them a permanent current tax law and took uncertainty out. but from another perspective it wasn't very brave. in the end we taxed rich people to spend on the current programs and we kicked down the road cutting any new ones so it really wasn't a solution to the debt and it was not a great solution to avoiding a recession. >> pelley: so you start us looking -- picking up on looking forward where robert reich started already and so did maya. but the debt issues, the debt limit issue, that's the next thing to come. >> the next thick to come isn't dealing with the
ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts, as i said, particularly with regard to infrastructure and safety net programs, programs for the poor, are very critical for the future. >> brown: doug holtz-eakin, i guess there's consensus there's more to come, right? >> no question, we got a mixed bag. it got us past the cliff and the biggest thing is addition by subtraction. we have a recession, that's the best news. for 98%...
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ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes significantly so yes we need a huge debate on iraq this time before thank you so much as one would brooks of public note i thank you. stay tuned because we take a harder look after her secretary of treasury and fed chairman man larry summers you won't believe what he did when he was president of harvard and then prime interest producer bob inglis and i explored the lighter side at that straight about madison avenue. a clear image of the iraq story a. twenty day taxi trip through the country. the road to. clear evidence from north to south. the route of iraqi tragedy. after the war waiting for peace. talks e t. download the official ati application to yourself choose your language stream quality and enjoy your favorites. if you're away from your television or it just doesn't matter how would your mobile device you can watch ati any time anyway. i. know when we talk
ceiling which would raise the debt ceiling cut spending and have tax reform i think it's dangerous to have tax reform in this debate and look in the personal cliff debate in january we already raise taxes and we raise taxes significantly so yes we need a huge debate on iraq this time before thank you so much as one would brooks of public note i thank you. stay tuned because we take a harder look after her secretary of treasury and fed chairman man larry summers you won't believe what he did...
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Jan 24, 2013
01/13
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in this half hour the house passes a bill to suspend the debt ceiling but the spending sequester cuts are still set to kick in on march 1st and i hope they do. now house speaker john boehner says president obama is out to annihilate the republican party. we'll talk about all that with new hampshire senator kelly ayotte and our political panel in just a few moments. >> also, big time golfers phil mickelson, tiger woods, lebron james and derek jeter are all supply siders. we'll explain that later this hour. >> i wasn't involved in the talking points process. as i understand it, as i've been told, it was a typical interagency process where staff, including from the state department all participated to try to come up with whatever was going to be made publicly available. >> that of course was secretary of state clinton today on capitol hill saying she had no role in susan rice's false talking points on the benghazi consulate attack. but will we ever find out why ambassador rice denied the terrorist attack and misled the public saying this on "meet the press." >> what happened in benghazi
in this half hour the house passes a bill to suspend the debt ceiling but the spending sequester cuts are still set to kick in on march 1st and i hope they do. now house speaker john boehner says president obama is out to annihilate the republican party. we'll talk about all that with new hampshire senator kelly ayotte and our political panel in just a few moments. >> also, big time golfers phil mickelson, tiger woods, lebron james and derek jeter are all supply siders. we'll explain that...
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ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts as i said, particularly with regard to infrastructure and safety net programs programs for the poor, are very critical for the future. >> brown: doug holtz-eakin i guess there's consensus there's more to come right? >> no question we got a mixed bag. it got us past the cliff and the biggest thing is addition by subtraction. we have a recession that's the best news. for 98% of the taxpayers it gave them a permanent current tax law and took uncertainty out. but from another perspective it wasn't very brave. in the end we taxed rich people to spend on the current programs and we kicked down the road cutting any new ones so it really wasn't a solution to the debt and it was not a great solution to avoiding a recession. >> pelley: so you start us looking -- picking up on looking forward where robert reich started already and so did maya. but the debt issues the debt limit issue, that's the next thing to come. >> the next thick to come isn't dealing with the debt.
ceiling as a way of extracting more concessions with regard to spending cuts. some of the spending cuts as i said, particularly with regard to infrastructure and safety net programs programs for the poor, are very critical for the future. >> brown: doug holtz-eakin i guess there's consensus there's more to come right? >> no question we got a mixed bag. it got us past the cliff and the biggest thing is addition by subtraction. we have a recession that's the best news. for 98% of the...
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ceiling and dealing with the seaquest duration spending cuts at the last congress put off in this.
ceiling and dealing with the seaquest duration spending cuts at the last congress put off in this.
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Jan 7, 2013
01/13
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ceiling discussion, we've got senator mcconnell saying, listen, we got to find ways to cut entitlements. isn't this smack in the middle of that debate when you're charging $300,000? >> well, we charge $295,000 because of really three things. one, the burden of illness of the condition you described, $200,000 to $600,000 a year is the cost for each one of these patients. we charge $295 because of the value that gattax brings. reducing the nutrition, 15% of patients getting off of nutrition altogether and improvement in the quality of life. and third, there's a premium associated with treating only 3,000 to 5,000 patients in the u.s. >> so the insurance companies would actually favor using your drug than doing what they're currently doing for these people. >> that's exactly right actually. 100% of the payers said that they would reimburse gattex. 76% of the physicians said that they will prescribe gattex independent from the cost. and about 100% of the patients said they will try gattex. >> let's go over when people talk about cutting medicare, when people talk about reining in costs, if
ceiling discussion, we've got senator mcconnell saying, listen, we got to find ways to cut entitlements. isn't this smack in the middle of that debate when you're charging $300,000? >> well, we charge $295,000 because of really three things. one, the burden of illness of the condition you described, $200,000 to $600,000 a year is the cost for each one of these patients. we charge $295 because of the value that gattax brings. reducing the nutrition, 15% of patients getting off of nutrition...
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Jan 3, 2013
01/13
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battling spending cuts and the debt ceiling. u.s. investors are turning their attention away from the fiscal cliff to this week's economic data. friday's jobs report. official pmi data puts service sector growth at a four-month high in december thanks to a boost in construction work. and you've just joined us this morning. a very warm welcome. what a bumper day we had for global investors yesterday. it's great if you're long on the market. the doe up 2.4%. the nasdaq up 3. the s&p 500 up 2.5. right now we are implied slightly weak e at the open. the dow implied down some 35 at the moment. s&p down 3 and the nasdaq down some 4 points. let's show you where we stand on the ftse global cnbc 300. just off ten points ahead of the u.s. open and after good gains yesterday, stock up 2% across the board setting up a 20-month high on average. not big losses. the ftse down 9%. the xetra dax closing yesterday, only 4% of the record high. that was 8,105 we hit in 2007. you can see not far away at 7,756. the ibex, mirroring its performance. but the
battling spending cuts and the debt ceiling. u.s. investors are turning their attention away from the fiscal cliff to this week's economic data. friday's jobs report. official pmi data puts service sector growth at a four-month high in december thanks to a boost in construction work. and you've just joined us this morning. a very warm welcome. what a bumper day we had for global investors yesterday. it's great if you're long on the market. the doe up 2.4%. the nasdaq up 3. the s&p 500 up...
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Jan 15, 2013
01/13
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something cataclysmic shouldn't be done in terms of reaching the debt ceiling, yet does science seem locked in concrete. i'm not going to talk about the congress. speaker boehner said it can't be done unless we cut spending at the same time. having watched this for more than 30 years in congress, what are the odds of avoiding going over the cliff given where both parties are? >> the outside that we won't do it. it's not a matter of faith. it's a matter of consequence. i mean, those who say okay, let's toilet, they are toying with the american economy and with the global economy. and so, i think it is somewhat -- it seems brave to talk about doing that, but the closer you get to that cliff, the less likely it is that your fund the u.s. over it. >> one another in a booklet of brian butler and start. let me ask you about tax reform. he told "politico" last week that a balanced approach are facing sequester with spending cuts and revenue should accelerate tax reform and i believe it's fully possible this year for work on a bipartisan basis, unquote. how does that square with the people w
something cataclysmic shouldn't be done in terms of reaching the debt ceiling, yet does science seem locked in concrete. i'm not going to talk about the congress. speaker boehner said it can't be done unless we cut spending at the same time. having watched this for more than 30 years in congress, what are the odds of avoiding going over the cliff given where both parties are? >> the outside that we won't do it. it's not a matter of faith. it's a matter of consequence. i mean, those who...
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Jan 16, 2013
01/13
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months as part of the fiscal cliff arrangement, and we have the infamous debt ceiling which will come into play.
months as part of the fiscal cliff arrangement, and we have the infamous debt ceiling which will come into play.
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Jan 15, 2013
01/13
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ceiling, which will come and play. so we will be seeing a lot of activity in the next few months, debates about the appropriate types of governments and the size of the deficit and a lot of back-and-forth over these issues. without going into all the different ramifications, i would like to say one word about the debt ceiling, which is not
ceiling, which will come and play. so we will be seeing a lot of activity in the next few months, debates about the appropriate types of governments and the size of the deficit and a lot of back-and-forth over these issues. without going into all the different ramifications, i would like to say one word about the debt ceiling, which is not
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Oct 17, 2013
10/13
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credit rating during the last debt ceiling crisis in 201 1 says the short turn around for congress to negotiate a longer term budget deal will likely weigh on consumer confidence going into the holiday season. >>> joining us with his thoughts, brian gardener senior vice president washington research analyst. brian, thanks for joining us. what damage do you think this episode has done? >> good morning. i think it's temporary. a lot of this is timing. i think a lot of americans, they sit back are going to wonder you know, how much value was added by government? a lot of people just went on unaffected. they didn't like the stories and the pictures of national monument life being shut down. now, a lot of that economic activity that wasn't going on because of the shutdown will get pushed off for a few months. i think the damage is minimal. >> we don't know was going to happen next. we might be back here. so is the -- maybe the key take away here is that the fed isn't going to do anything for quite some time. >> i think that is the key take away ross. i think skeptic yag that the fed was go
credit rating during the last debt ceiling crisis in 201 1 says the short turn around for congress to negotiate a longer term budget deal will likely weigh on consumer confidence going into the holiday season. >>> joining us with his thoughts, brian gardener senior vice president washington research analyst. brian, thanks for joining us. what damage do you think this episode has done? >> good morning. i think it's temporary. a lot of this is timing. i think a lot of americans,...
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Feb 1, 2013
02/13
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. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to vote for a thicker national debt either. that doesn't care what their philosophy to pick them up with a strategy and in the meantime we want the senate to pass a budget for 2014 and the law says if either chamber fails a budget, paychecks will be docked. the whole idea is to postpone the economy default situation until the prosecutor at the continuing fight over taxes and then made to a point where both sides are satisfied in the debt limit can be raised again. >> how a template of a increasing the deficit in effect the economy and financial markets? >> where do you know
. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to...
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Jan 2, 2013
01/13
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is that the amount of cutting that you want to see in order to allow the debt ceiling to be raised? >> william, think about what you just said. draconian cuts. the fact of the matter is the cuts in the sequestration are ugly. the only thing that's uglier is not doing it. we have to start bending the debt curve. >> is that a yes, sir? >> oh, of course, and i was pretty clear in that. you let it -- i would -- there's better ways to do it, but it's better than not doing it. >> congressman, real quickly. what would it take for to you agree to the geithner proposal, to give the president the authority himself to raise the debt ceiling? what kind of spending cuts would have to be included in a grand agreement for to you get on board with that, if you would? >> yeah, i doubt i would ever agree to such a thing. it's not spending cuts. it's reshaping the way future entitlements are delivered because that's what consumes every dollar in our general fund in the future. >> sir, i hear you. we certainly hope that it's not as ugly as it was in august of '11 on this debt ceiling debate. >> but we
is that the amount of cutting that you want to see in order to allow the debt ceiling to be raised? >> william, think about what you just said. draconian cuts. the fact of the matter is the cuts in the sequestration are ugly. the only thing that's uglier is not doing it. we have to start bending the debt curve. >> is that a yes, sir? >> oh, of course, and i was pretty clear in that. you let it -- i would -- there's better ways to do it, but it's better than not doing it....
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Jan 2, 2013
01/13
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the debt ceiling raise. in exchange republicans will push for more spending cuts. here is senator shelby. >> this will be part of the legacy, the failure to step up ld have brought leadership he to the table. he didn't. now he wants to talk about cutting spending? it is a joke. >>reporter: everyone in washington has been in a battle overtime fiscal cliff but get ready because when the president comes back from hawaii we have the debt ceiling that will reach the limit in the next few weeks and that will be an even bigger battle. >>greg: better enjoy the tranquility in hawaii. >> the fiscal cliff deal is giving a nice boost to wall street. look at this. this is the 401(k), traders enjoy it while they can, up 250 points. and gerri willis is here with us now. i am getting the sense that traders could be myopic. >>gerri: last week the markets traded lower and now they rise on little volume. but it is yet to be seen where they will go. as you have been discussing we will be up against it. however, the dow is up 2
the debt ceiling raise. in exchange republicans will push for more spending cuts. here is senator shelby. >> this will be part of the legacy, the failure to step up ld have brought leadership he to the table. he didn't. now he wants to talk about cutting spending? it is a joke. >>reporter: everyone in washington has been in a battle overtime fiscal cliff but get ready because when the president comes back from hawaii we have the debt ceiling that will reach the limit in the next few...
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Jan 22, 2013
01/13
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. >>> house republicans seeking to extend the debt ceiling and fight another day. >> better luck next time. oh, sure you can't win them all, you know. >> if the bill passes march 1st becomes the new deadline to watch. that's when drastic spending cuts are set to kick in automatically, unless a debt agreement is reached. we'll ask the ceo of cowan and company if the delay would help or hurt the market? the third hour of "squawk box" begins right now. >> welcome back to "squawk box" here on cnbc first in business worldwide. i'm joe kernen along with becky quick. andrew ross sorkin is on assignment in, i think it's davos. isn't it? >> davos is how they say it. we say davos. >> they say davos? oh, never mind. he's in davos. he will join us tomorrow with the latest from the world economic forum when becky goes over there she gets stockholm syndrome so badly. >> that's why you won't let me go anymore. >> and sorkin is already basically a socialist, so being over in europe, he's going to end up, who knows, maybe he will actually be, could it be -- influence would be more or less? >> it's har
. >>> house republicans seeking to extend the debt ceiling and fight another day. >> better luck next time. oh, sure you can't win them all, you know. >> if the bill passes march 1st becomes the new deadline to watch. that's when drastic spending cuts are set to kick in automatically, unless a debt agreement is reached. we'll ask the ceo of cowan and company if the delay would help or hurt the market? the third hour of "squawk box" begins right now. >>...
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Jan 14, 2013
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, that we will raise the debt ceiling dollar for dollar on spending cuts. there are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. we're not going to put ourselves in a position where, in order to pay for the spending we have already incurred, where the two options are we were way to either profoundly hurt the economy, hurt seniors, hurt kids trying to go to college or we will blow up the economy. we will not do that. not whatever congress does. they will have to send me something that is sensible. we should not be doing this in a one-three month time when. why should we do that? where the united states of america. we cannot manage our affairs in such a way that we pay our bills and provide certainty in terms of how we pay our bills? look. i do not think anyone would consider my position on reasonable. major, i am happy to have a conversation about how we reduce our deficits. i'm not going to have a monthly or every three months conversation about whether or not we pay our bills. that
, that we will raise the debt ceiling dollar for dollar on spending cuts. there are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. we're not going to put ourselves in a position where, in order to pay for the spending we have already incurred, where the two options are we were way to either profoundly hurt the economy, hurt seniors, hurt kids trying to go to college or we will blow up the economy. we will not do that. not...
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Feb 1, 2013
02/13
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. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time in nation's history. they department want to do that again. like i said, i didn't want to vote for a bigger national debt either. that doesn't fit with their philosophy. they came up with the strategy of saying we're going us is fend. and in the meantime, they want the senate to pass a budget for 2014 and the law salses that -- says that if either chamber fails to adopt a budget by april 15, the paychecks will be docked. the idea of the thing is to postpone the sort of economy raddling default situation until they can prosecute the continuing fight over taxes and spending to a point where, you know,
. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time...
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Jan 31, 2013
01/13
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senate is expected to vote this afternoon on a bill to suspend the debt ceiling for -- why not suspend it indefinitely? the house passed the measure last week. the senate version includes several republican amendments, matching spending cuts, every dollar increase in the ceiling and that's not expected to get passed. it will suspend it to may the 19th when it will be raised by the amount the treasury borrows in the interim. why -- greg is with us. greg is the economist. can we just get rid of the debt ceiling? it's a real brawl. >> just deep six that sucker like no other country deals with this it ottic device. hey, i'm going to borrow some money, but i'll think twice over whether i'm going to pay the bill when it comes. >> what if it was the founding father himself who said i think we ought to have a debt ceiling so as to avoid fiscal recklessness? >> well, in fact, the debt ceiling, the reason we have one is because up until 100 years ago, we voted on every bond issue individually. so you think it's bad now, just imagine if we had had that situation. but looking forward, though, this
senate is expected to vote this afternoon on a bill to suspend the debt ceiling for -- why not suspend it indefinitely? the house passed the measure last week. the senate version includes several republican amendments, matching spending cuts, every dollar increase in the ceiling and that's not expected to get passed. it will suspend it to may the 19th when it will be raised by the amount the treasury borrows in the interim. why -- greg is with us. greg is the economist. can we just get rid of...
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Sep 30, 2013
09/13
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in the summer of 2011 when congress fought over raising the debt ceiling cutting the u.s.'s aaa debt rating, it took five months to recover. recently when lawmakers flirted with the fiscal cliff last december the dow fell more than 400 points or 3.1% between december 18th and 28th of the last year. after congress averted the cliff with the deal on new year's day, the dow soared. there are several sectors that could feel the impact of a lengthy government shutdown. a recent goldman sacks report said that companies that derive 20% of their revenues from the government. lockheed martin gets 97% of its sales from government contracts. you don't think about your neighborhood garbage plan. the u.s. farms out a lot of its back office support work to the private sector. among the biggest i.t. and equipment providers, cisco systems, generates 22% of its sales from washington. centene is top on the list relying solely on the u.s. government for its sales. health care stocks may not be as impacted as the other sectors, but that is a whole other can of worms and another story we're goi
in the summer of 2011 when congress fought over raising the debt ceiling cutting the u.s.'s aaa debt rating, it took five months to recover. recently when lawmakers flirted with the fiscal cliff last december the dow fell more than 400 points or 3.1% between december 18th and 28th of the last year. after congress averted the cliff with the deal on new year's day, the dow soared. there are several sectors that could feel the impact of a lengthy government shutdown. a recent goldman sacks report...
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Jan 17, 2013
01/13
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ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare, medicaid, and other social programs, we will refuse to raise the debt ceiling and thereby cause an economic catastrophe by making the country default on its debts. >> house republicans if anything are more determined than ever to tie any increase in the debt crilg to spending cuts. they are huddled away at their retreat in williamsburg, virginia as we speak. determined to present a united front against this. in fact, the theme, they are gathering down in williamsburg is many voices. one conference. a senate republicans are equally determined, listen up to senator john have speaking earlier today on fox news. >> we have a spending problem in this country. people all across the country know it they know it in wyoming. families have to balance thei
ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare, medicaid, and other social programs, we will refuse to raise the debt ceiling and thereby cause an economic catastrophe by making the country default on its debts. >> house republicans if anything are more determined...
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Jan 7, 2013
01/13
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CSPAN2
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ceiling deals, averted sequestration or not averted sequestration, this is a very timely period to be having this conversation. and fortunately, we're joined by a fantastic panel of experts to help us cut through some of this confusion, but even more importantly, pull back and look at some of the bigger strategic questions that are out there. joined by three folks here, mike o'hanlon, who you already met, senior fellow and director of research of foreign policy here at brookings. he's one of the most important and prolific voices in defense issues, written literally hundreds of op-eds, columns and articles including one to point you out to that's up on foreignpolicy.com's web site right now looking at defense budget scenarios. his most recent books include "the opportunity: why nuclear arms control is still important" and very appropriate to today's event, "the wounded giant." then we're joined by richard betts who's one of the top thinkers and teachers in the field of security studies. he's a salzmann professor at columbia university. his numerous books have garnered critical success
ceiling deals, averted sequestration or not averted sequestration, this is a very timely period to be having this conversation. and fortunately, we're joined by a fantastic panel of experts to help us cut through some of this confusion, but even more importantly, pull back and look at some of the bigger strategic questions that are out there. joined by three folks here, mike o'hanlon, who you already met, senior fellow and director of research of foreign policy here at brookings. he's one of...
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ceiling and this spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk whoa part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall wrong cliffs we have five phrases we'd like to retire this year that's in loose change let's get to today's capital account. so the fiscal cliff has been averted kind of by a deal that pushes more wrangling into the future by a few months so all say the play by play of the twenty four hour cable network news that we are hearing and will continue to hear for at least the next few months let's move on to something actually interesting though for the most part it is a new year time to reflect on how we can be better in two thousand and thirteen when it comes to the way we think about the economy money capitalism q e and just take an assessment of
ceiling and this spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk whoa part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff will discuss and wall wrong cliffs we have five phrases we'd like to...
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Jan 23, 2013
01/13
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FBC
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rich: this is the bill that raises the debt ceiling until may 19. there are republicans saying they think they have the votes to pass this. there are no spending cuts as part of this. there are a number of republicans who want to increase the debt ceiling only at the congress passes a corresponding number of spending cuts. we have to watch this very closely and make sure it does reach that threshold. it is not necessarily 218. if everyone votes, it will be. if it does pass into the senate, harry reid says they will take it up and they will likely pass it as well. you have to get through this first. we will update you when and if we get there. melissa: another short-term solution. thank you so much. what did the administration know and when? hillary clinton in the hot seat today over the benghazi attack. lou dobbs will weigh in on that. lori: a mixed picture. we are back after this. ♪ >> at 21 minutes past the hour, i am patty and brown with your fox news minute. then yahoo! called early elections three months ago expecting and easy victory. the le
rich: this is the bill that raises the debt ceiling until may 19. there are republicans saying they think they have the votes to pass this. there are no spending cuts as part of this. there are a number of republicans who want to increase the debt ceiling only at the congress passes a corresponding number of spending cuts. we have to watch this very closely and make sure it does reach that threshold. it is not necessarily 218. if everyone votes, it will be. if it does pass into the senate,...
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Sep 18, 2013
09/13
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ALJAZAM
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the debt ceiling. the cuts that the gop has in mind, mike. >> well, tony, people don't want to hear it, but this could be the one time where compromise isn't in sight and we could have the first government shut down. the october 1st deadline happens every year x the fiscal year ends on october 1st. and if the congress hasn't passed funding bills, the government will shut down. the problem that john boehner faces, he would assume keep the government open and negotiate later. but the conservative caucus said that it has to be defunding of obamacare. the president's signature healthcare goes into effect on october 1st. and the speaker today in congress came ut and it quickly became parent that he's going to go along with those conservatives. >> there should be no conversation about shutting the government down. that's not the goal here. our goal here is to cut spend something to protect the american people from obamacare. it's as simple as that. we have no interest in shutting the government down. >> and
the debt ceiling. the cuts that the gop has in mind, mike. >> well, tony, people don't want to hear it, but this could be the one time where compromise isn't in sight and we could have the first government shut down. the october 1st deadline happens every year x the fiscal year ends on october 1st. and if the congress hasn't passed funding bills, the government will shut down. the problem that john boehner faces, he would assume keep the government open and negotiate later. but the...
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Jan 11, 2013
01/13
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. >> in 2011 they raised the debt ceiling and promised to cut $1.2 trillion. guess what? they punted on that one. now they are one sequestration in arrears. they owe us two and we're not getting any. that's not shooting ourselves in the foot. it's shooting our children in the head. >> i would argue that they did the -- i would argue they absolutely did not do the right thing. they probably should have let things lie and started over for something bill bigger and more structural. if you look at the last two years, you've got a tax hike and delayed sequestration of spending cuts. >> right. >> so what did you get? you got a tax hike? i'm not sure that's in the best interest of the economy. >> we'll wrap this up. i'll give you a chance to take back that somewhat uncolorful statement that you just made. >> we don't think you meant it in any literal way. >> i think -- not a time -- >> i think our economic policies are suicidal for the country in the long run. >> okay, all right. thanks, everybody. >> there's a way to make a point and another way to make a point that's all i'm s
. >> in 2011 they raised the debt ceiling and promised to cut $1.2 trillion. guess what? they punted on that one. now they are one sequestration in arrears. they owe us two and we're not getting any. that's not shooting ourselves in the foot. it's shooting our children in the head. >> i would argue that they did the -- i would argue they absolutely did not do the right thing. they probably should have let things lie and started over for something bill bigger and more structural. if...
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we're approaching now the negotiation to raise the debt ceiling. where do you stand, congressman, on the spending cut that are so desperately needed to rein in our budget which obviously didn't happen in the fiscal cliff deal? >> well, we have to do it. i'm committed to doing it. most of the country is understanding and committing to doing it. i know we'll have a package in the next couple weeks that will be initiated in the house and sent to the senate we hopefully can start to get our arms around this problem. lori: thank you for your time, congressman frank lobiondo, representing atlantic city. thanks for updating the situation of your constituents. >> thank you. melissa: we have morning breaking news. we want to take you to the floor of the house of representatives where john boehner is about to be sworn in as speaker of the house. i believe starts off with the picture he is walking around, talking to people and shaking his hands as he makes his way to the front. he will be escorted as speaker-elect, house sergeant and arms and introduced by ho
we're approaching now the negotiation to raise the debt ceiling. where do you stand, congressman, on the spending cut that are so desperately needed to rein in our budget which obviously didn't happen in the fiscal cliff deal? >> well, we have to do it. i'm committed to doing it. most of the country is understanding and committing to doing it. i know we'll have a package in the next couple weeks that will be initiated in the house and sent to the senate we hopefully can start to get our...
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Jan 4, 2013
01/13
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CNNW
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we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock exchange to talk about how people are reacting to the news. we know there's a higher payroll tax everybody got hit with here, but there were some breaks for a lot of families. so how does it balance out? >> here's some of the positive that came out of all that political posturing. the fiscal cliff deal did include some savings for families and in some cases it could amount it to thousands of dollars. these are mostly for low income families. the first one out of this is it preserved the child tax credit. that's about $1,000 credit per chi child. this is for people going to
we expect, of course, a vigorous debate over the debt ceiling. by late february and early march they have to decide whether or not to raise the ceiling or risk economic chaos. the automatic spending cuts put off this week will hit march 1st. the deal only delayed them, so it didn't really solve the problem. funding for the government runs out on march 27th unless a new revenue bill is passed. >>> with all that is coming up, we want to bring in alison kosik in the new york stock...
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Jan 10, 2013
01/13
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a lot of problem -- say we should push for many cuts as a part of the deal on the debt ceiling but the president himself has said he's not going to negotiate it also is going to put republicans in a tough position. if they want to push in the present won't play ball they will end up satisfying the activists and not getting a deal so they will have to craft a real strategy perhaps a better strategy than they had on the clip deal. >> host: texas, independent line, robert your next. >> caller: yeah, we are not seeing a republic president for another 11 or 12 years. obama has to finish out his term and hillary is going to take another eight years. rubio will help for the republicans but he is cuban and the latinos are not going to go for mexicans and latinos. you have to remember the cubans had kennedy and the russians and all that. the latinos will not follow you as they would a real latino. >> host: what was your first about speaker boehner? >> caller: he needs to have a republican presidents to have any help. >> guest: it's a very fair point. one of the real problems right t right now i
a lot of problem -- say we should push for many cuts as a part of the deal on the debt ceiling but the president himself has said he's not going to negotiate it also is going to put republicans in a tough position. if they want to push in the present won't play ball they will end up satisfying the activists and not getting a deal so they will have to craft a real strategy perhaps a better strategy than they had on the clip deal. >> host: texas, independent line, robert your next. >>...
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Feb 20, 2013
02/13
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another thing that is talked about is this is not the same as the fiscal cliff for the debt ceiling where the next day everybody's taxes are going to go up. these budget cuts would happen over time, and a lot of the furloughs would not happen for a month or two months. the next, big budget deadline is march 27, when the continuing resolution will expire, and meeting the will shut down if there is not a budget deal reached by march 27. there is talk of a sequestration deal being rolled into that so that march 27 might be the next deadline to look at. host: poco -- "the new york times" has this story -- "dire forecast on effective budget cuts." here is bloomberg businessweek looking at a reboot for the simpson-bowles plan. are we hearing anything new from them and what has the reaction been? guest: what is interesting is we have not had a ton of reaction from both sides. here is generally what their plan looks like -- 2.4 trillion dollars over the course of 10 years. that is scaled back. their other big deficit commission was around $4 trillion. one quarter of that would come from medicare
another thing that is talked about is this is not the same as the fiscal cliff for the debt ceiling where the next day everybody's taxes are going to go up. these budget cuts would happen over time, and a lot of the furloughs would not happen for a month or two months. the next, big budget deadline is march 27, when the continuing resolution will expire, and meeting the will shut down if there is not a budget deal reached by march 27. there is talk of a sequestration deal being rolled into that...
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Sep 15, 2013
09/13
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it's never happened before. >> the president said today he will not negotiate on the debt ceiling, uma? >> well, at this point, do you see any sign of a compromise on the gop side? >> no, even as house speaker john boehner said, he's trying to find ways to avoid a government shutdown. some conservative republicans appear determined to stand their ground. >> the president is the individual who's talking about shutting down the government. the democrats in the house and the senate are the individuals talking about shutting down the government. we want to fund the government and protect the american people from a destructive law as it relates to health care. >> a house effort to defuse that crisis was derailed earlier this month because it lacked conservative gop support. >> the drama continues. steve, thank you so much. >>> new concerns being raised with the united states and russia securing now an agreement on securing syria's chemical weapons. how does this impact u.s. foreign policy and what about the president? let's bring in our political insiders, john, former republican congressma
it's never happened before. >> the president said today he will not negotiate on the debt ceiling, uma? >> well, at this point, do you see any sign of a compromise on the gop side? >> no, even as house speaker john boehner said, he's trying to find ways to avoid a government shutdown. some conservative republicans appear determined to stand their ground. >> the president is the individual who's talking about shutting down the government. the democrats in the house and...
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Jan 9, 2013
01/13
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we have to rise the debt ceiling. they said it's inconceivable we would default, and that's one issue. and that is an issue that is congress' responsibility and they need to fulfill that responsibility and make sure that the united states of america as it has throughout the existence ens raise the bills. we continue to have challenges embodied in one instance by the sequester that we need to resolve in concert with congress. and the need to do that presents an opportunity to in a balanced way achieve further significant deficit reduction. the president, as you know, twice now has pursued a big deal with speaker boehner that in its totality would have achieved over $4 trillion in deficit reduction over a decade. because of the nature of those negotiations, and the inability of the speaker to in the end reach a comprise with the president, we have found ourselves needing to take smaller steps in pursue that overall goal. the goal remains one that the president believes is the right one. he hopes that in dealing with our
we have to rise the debt ceiling. they said it's inconceivable we would default, and that's one issue. and that is an issue that is congress' responsibility and they need to fulfill that responsibility and make sure that the united states of america as it has throughout the existence ens raise the bills. we continue to have challenges embodied in one instance by the sequester that we need to resolve in concert with congress. and the need to do that presents an opportunity to in a balanced way...
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Jul 28, 2013
07/13
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MSNBCW
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it was that debt ceiling debacle at the end of 2011 that brought president obama's approval rating to an all-time low. it convinced the president that no amount of compromising would be enough to get any kind of deal from republicans. if he was going to have any chance of enacting anything he wanted, he'd have to make his case to the public and beat the gop in the 2012 elections. this is when he addressed a joint session of congress and proposed the american jobs act. sweeping economic wish list that included half a trillion in spending. the idea all polled well and senate democrats tried to make republicans vote on them one at a time, but republicans, not surprisingly, filibustered them all to debt. this gave obama fuel for his re-election campaign, which for all intents and purposes, kicked off at the end of 2011 in kansas. >> i'm here in kansas to reaffirm my deep conviction that we're greater together than we are on our own. i believe that this country succeeds when everyone gets a fair shot. when everyone does their fair share. when everyone plays by the same rules. these aren't
it was that debt ceiling debacle at the end of 2011 that brought president obama's approval rating to an all-time low. it convinced the president that no amount of compromising would be enough to get any kind of deal from republicans. if he was going to have any chance of enacting anything he wanted, he'd have to make his case to the public and beat the gop in the 2012 elections. this is when he addressed a joint session of congress and proposed the american jobs act. sweeping economic wish...
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Sep 15, 2013
09/13
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it's never happened before. >> the president said today he will not negotiate on the debt ceiling, uma? >> well, at this point, do you see any sign of a compromise on the gop side? >> no, even as house speaker john boehner said, he's trying to find ways to avoid a government shutdown. some conservative republicans appear determined to stand their ground. >> the president is the individual who's talking about shutting down the government. the democrats in the house and the senate are the individuals talking about shutting down the government. we want to fund the government and protect the american people from a destructive law as it relates to health care. >> a house effort to defuse that crisis was derailed earlier this month because it lacked conservative gop support. >> the drama continues. steve, thank you so much. >>> new concerns being raised with the united states and russia securing now an agreement on securing syria's chemical weapons. how does this impact u.s. foreign policy and what about the president? let's bring in our political insiders, john, former republican congressma
it's never happened before. >> the president said today he will not negotiate on the debt ceiling, uma? >> well, at this point, do you see any sign of a compromise on the gop side? >> no, even as house speaker john boehner said, he's trying to find ways to avoid a government shutdown. some conservative republicans appear determined to stand their ground. >> the president is the individual who's talking about shutting down the government. the democrats in the house and...
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ceiling and on those spending cuts that they pushed off in terms of the sequester ration that was supposed to go through we do have some tax hikes we do have some permanent bush tax cuts i don't know what's your take away on this deal. are. older so basically. really been a problem. people . were going to get something in the range maybe a little more. is that. i think that. the problem among. your lot. all. right. a lot of. what the law maker is what the deal did manage to do is help lawmakers avert headlines today of markets plunged honor their points on lack of fiscal cliff deal but as you said the actual meeting is really nothing to write home about so let's talk about something more interesting any time these kind of discussions come about about the fiscal cliff or or whatever it may be even we're talking about prescriptions for the economy we hear plenty of ideas about what it takes to stimulate the economy our help the economy and improve whether it's that the government needs to spend to make up for what the consumer isn't spending or whether it's the government know we need to cut
ceiling and on those spending cuts that they pushed off in terms of the sequester ration that was supposed to go through we do have some tax hikes we do have some permanent bush tax cuts i don't know what's your take away on this deal. are. older so basically. really been a problem. people . were going to get something in the range maybe a little more. is that. i think that. the problem among. your lot. all. right. a lot of. what the law maker is what the deal did manage to do is help lawmakers...
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Jan 16, 2013
01/13
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in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly frustrated in delays by getting money they need. >> the whole outside of the house was ripped apart with waves. >> the waves washed out 16 years of family mementos from this water front house on new york's long island. >> what you see is exactly how we found it after the hurricane. >> jane long-term says she will -- letterman says she will have to tear down the home she loved. two months after the storm she is still waiting for the insurance payment to get her started. >> this is a shame. it's just a shame that, you know, this had to happen. but the thing to d
in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly...
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Oct 12, 2013
10/13
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ALJAZAM
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the house republicans have offered a proposed al to raise the debt ceiling. but it would offer cuts to benefit programs. the house will be in session on saturday. >>> as the house rolls on some states have struck a deal to re-open a few national monuments. >> this weekend the statue of liberty will welcome visitors and on monday the grand can job ancanyonand mt. rushmore will o. privateun
the house republicans have offered a proposed al to raise the debt ceiling. but it would offer cuts to benefit programs. the house will be in session on saturday. >>> as the house rolls on some states have struck a deal to re-open a few national monuments. >> this weekend the statue of liberty will welcome visitors and on monday the grand can job ancanyonand mt. rushmore will o. privateun
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Jan 15, 2013
01/13
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, that we will raise the deficit -- or the debt ceiling dollar for dollar on spending cuts. there are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. and so what we're not going to do is put ourselves in a position where in order to pay for spending that we've already incurred, that our two options are we're either going to profoundly hurt the economy and hurt middle-class families and hurt seniors and hurt kids who are trying to go to college, or, alternatively, we're going to blow up the economy. we're not going to do that. >> -- open to a one-to-three- month extension to the debt ceiling -- whatever congress sends you, you're okay with it? >> no, not whatever congress sends me. they're going to have to send me something that's sensible. and we shouldn't be doing this -- >> -- and we shouldn't be doing this on a one to three-month timeframe. why would we do that? this is the united states of america, major. what, we can't manage our affairs in such a way that we pay our bills and we provide some certai
, that we will raise the deficit -- or the debt ceiling dollar for dollar on spending cuts. there are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. and so what we're not going to do is put ourselves in a position where in order to pay for spending that we've already incurred, that our two options are we're either going to profoundly hurt the economy and hurt middle-class families and hurt seniors and hurt kids who are...
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Jan 24, 2013
01/13
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i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we don't keep spending ourselves to death. >> i agree. congressmen have basically sent a message that today is not the day we're going to stop spending our children's and grandchildren's money, and charles is exactly right. the reason why our credit got downgraded is because of our out of control spending and out of control debt. the fiscal cliff deal even we just witnessed, it's such -- added four trillion dollars to our deficit over the next ten years. so, congress is not serious about reigning in spending and that's exactly when the we need to too. >> but they're not doing it. >> they're not doing it. and it neils hunky dorie. that's just it. >> the markets aren't. >> the markets are hunky doory for a few reasons. it's pause of the global economy. markets went up and
i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we don't keep spending ourselves to death. >> i agree. congressmen have basically sent a message that today is not the day we're going to stop spending our children's and...
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Jan 2, 2013
01/13
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CNBC
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>> the deal is cut for sequestration only because tim geithner controls when the debt ceiling is hit. there's many different extraordinary measures he can take to ensure hitting the debt ceiling occurs after sequestration. debt ceiling negotiations are so dramatic and republicans really do have a much stronger hand in those discussions, because markets, as you well know, react more significantly to threats of the debt ceiling not being raised. >> while republicans went along with this deal or some republicans did, 85 in the house voted for this, will it be a different scenario not talking about taxes? this was a tough issue for them to vote against. >> it will be a fundamentally different scenario when we are talking about sequestration. the debate is about spending cuts. y you'll see over the next weeks and days republicans coming out and talking aggressively highlighting the extravagant spending in washington under the obama administration. two months from now, you'll hear nothing every single day, a real hammering on the administration on extraordinary spending, extravagant spendin
>> the deal is cut for sequestration only because tim geithner controls when the debt ceiling is hit. there's many different extraordinary measures he can take to ensure hitting the debt ceiling occurs after sequestration. debt ceiling negotiations are so dramatic and republicans really do have a much stronger hand in those discussions, because markets, as you well know, react more significantly to threats of the debt ceiling not being raised. >> while republicans went along with...
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Jan 2, 2013
01/13
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but i would say that maybe the argument about spending cuts and the debt ceiling will be more akin to what happened in 2011, because that is the very issue. and the s&p -- the downgrade came on this debate over spending. >> one of the great bond buying opportunities. of course, the federal reserve is making the free money you talk about, which is good for stocks. remember, 257 people voted in favor of the deal. the minority has held people hostage. i don't understand what the president, other than the constitutional challenge, is saying not negotiate. i think everybody in this country recognizes -- senator corker, such a voice of reason. medicare is out of control, social security is very expensive. they will have to be taxable. >> we have 1-plus trillion in deficits. this will raise $60 billion. 5% or 6% of our problem. i've been on the record of saying let's get through this deal, just so we can now focus on the stuff that actually matters. >> thank you. >> the average single income household will extract six times in medicare and social security what they pay in. solve that. >> yea
but i would say that maybe the argument about spending cuts and the debt ceiling will be more akin to what happened in 2011, because that is the very issue. and the s&p -- the downgrade came on this debate over spending. >> one of the great bond buying opportunities. of course, the federal reserve is making the free money you talk about, which is good for stocks. remember, 257 people voted in favor of the deal. the minority has held people hostage. i don't understand what the...